HYDERABAD: Hyderabad-based Ramky group said that its flagship Ramky Infrastructure Ltd had tied up the debt syndication of Rs 830 crore for the execution of the Rs 1103 crore Hospet-Chitradurga road project in Karnataka.

An agreement on this has already been inked between Hospet Chitradurga Tollways Ltd (HCTL), the special purpose vehicle formed to undertake the project, and the consortium of bankers led by Axis Bank Ltd, the company said on Thursday.

The other lenders that form part of the consortium include IDBI Bank Ltd, Bank of India, India Infrastructure Finance Company, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, Central Bank of India and Oriental Bank of Commerce.

The four-laning of the Hospet-Chitradurga section of national highway 13 was awarded to Ramky in January this year on a design, build, finance, operate and transfer (DBFOT) basis by the National Highways Authority of India (NHAI) as part of the third phase of the National Highways Development Project. The project has a concession period of 25 years including the construction period of 910 days.

Ramky Infrastructure is currently executing projects across water and waste water, roads and bridges, buildings, irrigation, power transmission and distribution as well as industrial projects across 23 states and two Union territories of India as well as West Africa and has a total order book of Rs 13,225 crore.